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20121121
20121129
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you so much. >>> now, dan harris has the top stories developing this morning. >> thank you. good morning, everybody. we're going to start with the large and lethal highway pileup in texas. police have never seen anything like this. dozens of cars, trucks and suvs, piled on top of one another. look at this. smashed like toys. rescuers desperately trying to find survivors and pull them out of the wreckage. abc's ryan owens tells us how this happened. >> reporter: crews spent all night trying to untangle this mangled mess of metal. they think there's as many as 150 cars, trucks and semis piled up on this stretch of texas highway. two people, a man and a woman in this suburban were killed. almost 100 others spent their holiday in the hospital. >> look at this 18-wheeler right here. >> reporter: dense fog blinded drivers here on thanksgiving morning. investigators say most of them couldn't see a foot in front of them. >> it takes just one person to unexpectedly hit their brakes. and there's the domino effect. >> bam. you could hear it for miles. >> reporter: it happened on interstate
that proves a bigger tax hike? let's ask. rich edison. sabrina schaefer, and dan mitchell, rich, i have not even got into investor related taxes that goes up, medicare surcharge for well to do, i can go on and on with what states are doing with millon air taxes and the like that go -- are republicans missing this? >> you know, when you come int this argument, republicans are sort of going into this branding it as a revenue increase, they refuse to say tax increase, part of this, they say, you create a more efficient system in maybe you could lower rates maybe you get rid of some deductions, but that generates more economic activity, that is re money to be taxed. but, don't be mistaken, you are taking more money from the american population than you would be witho factoring in economic growth. talk about that cap, tax policy center says a 50,000 collar cap on -- 50,000 dollar cap on deduct, 750 bill i don't know over 10 years, that is real from come. neil: do you think that is what democrats are hinting at, when they say, it does not have to be a rate hike or bust? that they are quietly
of affairs in illinois. it's not pretty. >> dan hynes is the comptroller of the state of illinois, its paymaster. he currently has about $5 billion in outstanding bills in his office and not enough money in the state's coffers to pay them. he says they're six months behind. how many people do you have clamoring for money? >> it's fair to say that there are, you know, tens of thousands if not hundreds of thousands of people waiting to be paid by the state. >> so how are these people getting by if they're not getting paid by the state? >> well, that's the tragedy. people borrow money. they borrow in order to, you know, get by until the state pays them. >> they're subsidizing the state. they're giving the state a float. >> exactly. >> and who do you owe that money to? >> pretty much anybody who has any interaction with state government, we owe money to. >> that would include everyone from the university of illinois, which is owed $400 million, to small businessmen like mayur shah, who owns a pharmacy in chicago and has been waiting months for $200,000 in medicaid payments. then there are
, right there. but as dan simon tells us, even that gap is narrowing. >> reporter: online versus brick-and-mortar. the battle has never been so intense. for years, internet merchants like amazon had a key advantage in states like california. no sales tax. local bookstores already under pressure by the rapid rise of ebooks and large bookstore chains felt particularly squeezed. michael tucker owns a chain of bookstores in san francisco. >> if you can save 10%, why wouldn't you? >> reporter: but amazon's tax advantage recently disappeared in california, adding 7% to nearly 10% to the cost of each order. it also began taxing in other states like pennsylvania and texas. online retailers collect tax only for states where they have a physical presence. now here in california, amazon is building two giant warehouses. including this one near los angeles. it's a million square feet, and for old fashioned retailers, it's another reason to worry. why? because amazon's goal is to get items to customers faster and to be able to offer same day delivery. that's right. you can avoid stores if you want
owners, like dan, his store sells clock oil and exploded by selling through amazon, their stuff shows up on amazon's website. and amazon gets a cut of the action. >> right now we have about 150,000 skus we offer am zahn. >> reporter: 150,000 just from you? >> just from us. >> reporter: the company use sophisticated programs to track your online habits. a fully customized shopping experience to not only match prices but increasingly, match jo your desires. >> we have super smart people who build algorithims to get what people want. >> consumers are urged to shop around. meanwhile our happy yellow bin shows up right on cue. it's traveled about a mile since we saw it last and now it's nearing the end. as it's pulled off and boxed we add a message inside to make sure what shows up is the same item. all right. see this at home. 48 hours later. here it is. a box was sitting on my doorstep. crack it open. and -- there is our game. and it's our message. happy hole dpridays from abc ne. they may call it cyber monday but at amazon it never ends. i'm neal karlinsky for "nightline" in phoenix. >> an
problems for the country, maybe even a crisis. brings us to dan lothian at the white house this morning. dan, good morning. senate goes back to work this afternoon. the house will return tomorrow. what could really be done by lame duck congress? >> well, look, the hope is that there will be some kind of compromise here, because as you pointed out most americans believe that if there is no agreement there really could be a crisis here. so you are seeing some softening from republicans who took that no tax pledge back to 1986. first it was saxby chambliss. now south carolina republican senator lindsey graham. take a listen. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief, and republicans, republicans should put revenue on the table, we're this far in debt, we don't generate enough revenue. i want to buy down debt and cut rates to create jobs. but i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> and i think that's important what he said there. only i
the entitlements. i think he means the fat cats, not the workers. dan, vero beach, florida, bill, you are correct in your analysis. the democrat party and their allies at "the washington post" will continue to come after yous country. my fear is their assault will be more than you can handle. well, i've been dishing it and taking it for more than 16 years, dan. haven't beaten me down. joan, new zealand. bill, watched your comments about a traditional society and those voting for obama wanting stuff. it was the way you sneered at people wanting stuff that's upset people. joan, no sneering here. if i want to denigrate those receiving entitlements i would have done so in no uncertain terms. that's the kind of guy i am. i laid out the voting patterns along economic lines. just the facts. i make no judgments about those facts. many people need help through no fault of their own. kimberly connolly, corpus christi, texas. bill, we drove four hours to see you and miller in houston. awesome show. glad the trip was worth it. next stop, sold-out in salt lake city on saturday, december. th. just made a few m
legal team. nancy grace, the host of nancy grace on hln. also "gma" legal analyst dan abrams. dan, i'm no lawyer. but i don't understand what jeffrey pyne's lawyer was doing with the questioning to the lead detective. >> he's been asking a number of people. and he's been meaning it to be a rhetorical question. effectively, you can't say for certain who did this, or who killed her. but it's -- lawyers know you should never ask the question if you don't know the answer. particularly, when you're talking about a detective, who clearly believes, based on all of the evidence, that he does know who did it. so, it was not a smart question to ask. it's not going to be the game-changer in this case. but in retrospect, the lawyer shouldn't have done it. >> nancy, you would think that the detective does believe that jeffrey pyne's guilty, after the whole investigation, or there wouldn't be a prosecution. but that has to have some impact on the jury. >> of course it does. very typically juries believe police officers. they believe doctors. often, you'll see a doctor come in his surgical outfit b
and now the president and dan lothian from the white house, how is the president handling this? he's probably not doing as much laughing. >> reporter: what you saw today is the president bringing in americans. he says they will be impacted if the middle class tax cuts are not extending. they sent a message out there to republicans saying that they need to come on board and support this effort. republicans pushing back thinking that they don't think the upper income americans should see their taxes go up. what the president said to those who were here and those watching, put pressure on their lawmakers to support pushing out the bush era tax cuts for just middle class americans, not just through this effort but to text, to call, to send a fax, even twitter and the white house coming up with y2k referring to the amount of average middle class families would see their taxes go up by the white house says, $2200. so the pressure coming not only through social media but also the president inviting here to the white house yesterday we saw small business owners, today big ceos. on friday,
. john: so what? >> is very good to use, for dan to use the public land for running a private business or rent apart where all year round there is commercial revenue from renting in up to businesses. he keeps all that money. people don't realize that. i was in the park yesterday. i walked around and did a survey i asked 20 people if they thought this money was going to the city, and they'll think it is. so. john: so what if they think it's going to mars. the park is nice. >> it would ot have the taxes. we have the money left over. the park could be just as good. john: well, it certainly is true that the park is very commercial these days. but buying and selling going on. holiday gifts. very commercial. on the other hand, the public seems fine with that. >> its and look very nice. a different story. >> a lot of the things that they should be doing. you should -- john: some money. >> that's right. you will study. if everyone would feel just as good. >> is a very public. nobody has viewed it as privatized, and the final answer to these arguments, every dollar that is earned by concessions
on private equity. it's an issue we have not talked about yet. joining us now is dan primac of "fortune" magazine. >> good morning. >> so fiscal cliff, does it really matter to the world of private equity? >> it matters to the extent of if we go off of it or run into it depending on your metaphor. everyone feels we go into immediate recession, shock recession. it obviously matters because private equity succeeds or fails based on the portfolio companies in a major recession. private equity's a long-term asset class, it can survive as an industry or asset class. cycles better than most can. in general, i think everyone's kind of optimistic, believes something will get done. but there's nobody hoarding money or freaking out yet. >> what about carried interest? we keep talking about taxes and that's one component of this debate. carried interest sort of went on the table, then went off the table, maybe it comes back on the table. but it's not something we're hearing a lot about now. where do you think that issue stands? >> you know, for a long time, i've thought that the issue just works g
to dan, our foreign officer now a guest scholar for middle east policy. next hour at 6:30 eastern, stuart holiday is joining us, head of the public policy group that works with the state department. >>> no other news here, eight minutes past the hour, sorry twinkie fans, it appears hostess is almost history. they are headed back to bankruptcy court in new york today after this last-digit mediation effort with the bakers union failed. the bankruptcy judge has ordered the talks to try to save more than 18,000 jobs at this company. several companies have expressed an interest in buying the brands and the recipes. >>> former boxing champ hector macho camacho is in serious condition after being shot in puerto rico. the shooter fired at camacho and another as they sat outside a bar in taiwan. he was shot in the face and doctors say the bullet fractured two vertebrae in his neck and he may have trouble walking. >>> cleavon clash, the puppeteer who brought elmo to life on "sesame street" has quit. the lawsuit accuses clash of a sexual relationship with an underaged male. this comes a week after a
history. >> there's more counterfeiting going on in china now than we've ever seen anywhere. >> dan chow should know. a law professor at ohio state university, his specialty is chinese counterfeiting. we know that 15% to 20% of all goods in china are counterfeit. >> and these days, the way china's economy is booming, 15% to 20% means tens of billions of dollars. evidence of the counterfeiting trade can be seen at this hong kong warehouse where counterfeit watches, shoes, computer chips, all copied in china, and seized in hong kong, are tossed onto a conveyor belt, and consigned to the dust bin of history. but it's like stopping the rain, the seizure may look impressive, but every day, 6,000 shipping containers leave hong kong's harbor for the u.s. packed with products made in china, and only a small fraction of those containers are ever inspected. >> this is the most profitable criminal venture, as far as i know, on earth. >> counterfeiting. >> counterfeiting. and your partners don't kill you. >> attorney harley lewin has been chasing counterfeiters from china for more than twenty years.
off today with gains across the board. dan greenhouse, chief global strategist joins us. i know you're a fan of history. is the santa claus rally a real thing or just an urban legend? >> it's a real thing. >> buy stocks now and sell them new year's eve. >> lots of sayings on wall street tend to be not accurate. the concept of santa claus rally is one of the few that are true. modest outperformance from christmas to january 1st, january 2nd. stock traders almanac would define it first two days of the year as well. you see this year after year. the question for investors this year is whether or not the fiscal cliff gets in the way. in the context of what's happening with black friday, it's a really interest question. think the answer is yes. it does get in the way. >> we never had a fiscal cliff before. >> we're talking about black friday. black friday isn't the holiday shopping season. dana was on cnbc all morning. i'm sure she would agree. most shopping occurring as you get closer to christmas and then maybe saturday or sunday before is the peak. >> no one will make up to the perils
to the upside. >> of course, dan, everyone has said if there's this idea that washington can come together and define some sort of solution, that will make the markets buy into this confidence in washington. washington has big problems, and the solutions are probably going to mean painful medicine around. is there a moment when the markets wake up and realize and say, oh, my gosh, we have to realize we are talking about spending cuts, higher taxes and combination of these two things could lead to some troubling times for the markets too? >> well, that's going to be found out once the deal is in. let's say they had some sort of a deal and you start breaking it down. you'll have to look at how is it going to impact the economy? i imagine they're going to do it to minimize whatever impact there is. it seems to me, there's growth in this economy and we're looking for a place to spring board from it. so they're not going to want to ruin that chance. but until the details are out, we're really not going to want to know. >> we have not talked fiscal cliff with you in-depth on these things. what i
this job from his parents, who were hired by a man with a dream. 43 years ago, dan evans wanted to turn a gas station into a general store. it would be called cracker barrel. >> got the hamburger platter right here. >> reporter: today, with 620 stores in 42 states, this restaurant chain from tennessee fills each location with pieces of americana. >> i'm sure i'm not alone. most people probably think that stuff is a replica. it's real? >> yeah, it's all authentic. since the beginning, cracker barrel started, they said we're going to use the original pieces. since 1969, we've got out and hunted and dug and got into buildings to continue to use authentic pieces. >> reporter: if his home is a museum, well, then, cracker barrel's warehouse -- >> old cream cans. metal cream cans. >> reporter: is an archive of american history. where relics are restored, bar coded, and then categorized. each collectible is carefully staged in a mock store before a new cracker barrel opens. how do they pay for all this? with success. if you'd invested a thousand dollars in this company's stock in the earrl larl
Search Results 0 to 18 of about 19 (some duplicates have been removed)

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